CML statement of practice: Handling of arrears and possessions (historical)
Last reviewed: 1 Nov 2014
This Statement of Practice was originally introduced in February 1993, and circulated to members as Section D.2 to our Arrears Management Manual.
It was amended on a number of occasions and the last published version was dated November 2000. When the statutory regulation of mortgages came into effect on 31 October 2004, section 13 of the FSA's Mortgages: Conduct of Business Sourcebook (MCOB) effectively reproduced much of what had been contained in the Statement of Practice.